The City Assessor is responsible for listing and keeping the records for all real and personal property in the City of Richmond. Real property is generally land and all the improvements attached to it. Personal property would include machinery and equipment and is generally reported by commercial and industrial businesses. The City Assessor is an administrative officer of the City and is appointed by the City Manager with approval of the City Council. The Assessor works under the direction of the State Tax Commission and the City Manager.
Each year the Assessor is required by state law to individually place an assessment equal to 50% of true cash value (TCV) on all property in the jurisdiction using manuals and guidelines provided by the State Tax Commission. The assessment roll must be completed by the first Monday in March and available for review by the taxpayers. Annually in February, the Notice of Assessment is mailed out to all property owners that includes the current year assessed value (AV) and tentative taxable value (TV). An informal review of their information may be requested with the Assessor prior to the formal review conducted by the Board of Review at their March meetings.
On March 15, 1994, Michigan voters approved the Constitutional Amendment known as Proposal ‘A’. Prior to this amendment, property tax calculations were based on the Assessed Value. Proposal ‘A’ established “Taxable Value” as the basis for the calculation of property taxes. This meant there were now two values on property, Assessed Value (AV) and Taxable Value (TV). Increases in Taxable Value (after adjustments for additions and losses) are limited to the percent of change in the rate of inflation (Annual Inflation Rate Multiplier) or 5%, whichever is lower.
NOTE: The limit on Taxable Value increases does NOT apply to a property in the year following a transfer of ownership
The City of Richmond collects taxes for several local taxing authorities. Among these include the City of Richmond, Richmond Community Schools, Macomb County Intermediate School District, Macomb Community College and the State of Michigan for the State Education Tax. For information regarding these millage rates, please refer to the City Treasurer’s page here.
Frequently Asked Questions (FAQ)
A list of commonly asked questions and concepts regarding the process used in assessing properties, along with information regarding State Tax Law, property values and how they affect property taxes, is available here.